Jho Low Claims There's "No Evidence Of Any Misappropriation Of 1MDB Funds"
A press statement issued today, 13 July, by a spokesperson for Low Taek Jho, more commonly known as Jho Low, refutes Singapore's claims that 1MDB has been a victim of the Malaysian financier
According to court filings by Singapore prosecutors, made public on Wednesday, Jho Low is the central figure in investigations linked to 1Malaysia Development Berhad and has received money traceable to the 1MDB for his own benefit.
In a response, Jho Low has accused Singapore of being motivated solely by politics.
"This is an example of overreach with a politically motivated and selectively chosen narrative alleging 1MDB as a "victim"."
The spokesperson for Jho Low said:
"It has been clearly stated by the Malaysian authorities that there has been no evidence of any misappropriation of 1MDB funds. No wrongdoing has been proved in any jurisdiction relating to the alleged misappropriation of 1MDB funds, and this development in Singapore does not change that."
The spokesperson for Jho Low, who went into hiding ever since investigations into alleged wrongdoing at 1MDB was started by Singapore and the United States, also said in the statement that:
"Low is confident that any impartial party presented with the complete facts will see that the allegations are flawed, biased and create an inaccurate picture."
According to a report in the BloombergMarket, Singapore prosecutors have alleged that about (RM4.3 billion) that 1MDB was purported to invest in a joint venture with PetroSaudi International was diverted to a bank account beneficially owned by Jho Low
Singapore is the only country, among others involved in investigating 1MDB-related crimes, to have criminally charged bankers, after its investigations have led to five convictions.
On Wednesday, it sentenced a former Singapore banker to 54 months in jail for money laundering and offences linked to 1Malaysia Development Bhd.